Cim Investment Management Inc. Takes $239,000 Position in Ambarella, Inc. (NASDAQ:AMBA)

Cim Investment Management Inc. bought a new position in shares of Ambarella, Inc. (NASDAQ:AMBA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,436 shares of the semiconductor company’s stock, valued at approximately $239,000.

Several other institutional investors have also recently added to or reduced their stakes in AMBA. Azzad Asset Management Inc. ADV increased its stake in Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 231 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares in the last quarter. CWM LLC grew its position in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares during the last quarter. Principal Financial Group Inc. raised its stake in Ambarella by 8.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,882 shares of the semiconductor company’s stock worth $248,000 after acquiring an additional 363 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Ambarella by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock worth $588,000 after acquiring an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Down 1.1 %

NASDAQ:AMBA opened at $56.44 on Friday. The firm’s fifty day simple moving average is $51.51 and its 200-day simple moving average is $51.48. The stock has a market cap of $2.31 billion, a PE ratio of -13.25 and a beta of 1.63. Ambarella, Inc. has a fifty-two week low of $39.69 and a fifty-two week high of $65.88.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter last year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Ambarella, Inc. will post -3 earnings per share for the current year.

Insider Transactions at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the completion of the transaction, the chief executive officer now owns 803,574 shares of the company’s stock, valued at $45,016,215.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. The disclosure for this sale can be found here. Insiders sold a total of 22,927 shares of company stock valued at $1,274,788 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Bank of America raised their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Craig Hallum raised their price target on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambarella has a consensus rating of “Hold” and an average target price of $75.00.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.